26.01.
(1) Where, in a proceeding for foreclosure, possession or sale, the Court under rule 16.04 or otherwise, directs a sale in default of payment, the mortgaged property shall be sold upon such default in accordance with the advertisement of sale by the sheriff, or by any other person authorized by the Court to make the sale, and the sheriff or person so authorized may execute the deed of the property to be given to the purchaser.

(2)
In a proceeding for foreclosure, possession or sale, it shall not be necessary in an advertisement for sale to describe the mortgaged property by metes and bounds or as it is described in the mortgage, provided the description for the advertisement is approved by the Court.

26.02.Unless the Court otherwise orders, in a proceeding for foreclosure, possession or sale, a judgment for any amount due on a mortgage shall not be ordered, entered or enforced before the proceeds of sale have been realized.

26.03.Where the purchase money is insufficient to pay what is found to be due to a plaintiff for principal and interest and costs, the plaintiff shall be entitled, when the mortgagor is a defendant and such relief has been claimed, to an order for the payment of the deficiency.

26.04.Where the purchase money on a sale exceeds what is found to be due to a plaintiff, all accounts may be taken, inquiries made, costs taxed, and necessary proceedings had to distribute the surplus among the persons entitled thereto according to their priorities.

26.05.Where, in a proceeding for foreclosure, possession or sale, the sale of the mortgaged property is sought by a subsequent mortgagee or encumbrancer
, or by the mortgagor, or by any person claiming under them respectively, the Court shall not direct a sale without the consent of the first or any prior mortgagee, or the persons claiming under them, except upon such terms as the Court thinks fit and proper, which terms may include the deposit of money in Court.

26.06.In a proceeding for foreclosure, possession or sale, upon payment by the defendant, or in a proceeding for redemption, upon payment by the plaintiff of the amount found due, the plaintiff or defendant, as the case may be, shall, unless the Court otherwise directs convey the mortgaged property in question to the party making the payment, or to the party's nominee, free and clear of all encumbrances created by the party, and deliver up all deeds and writings in the party's custody or power, relating thereto.

26.07.Where it appears necessary or expedient in a proceeding that any property be sold, the Court may order the property to be sold and any party bound by the order and having any interest therein, or who is in possession of the property or in receipt of the rents, profits or income thereof, shall, if the Court so orders, join in the sale, conveyance or transfer, or deliver up the possession or receipts thereof to the purchaser or person designated by the Court.

26.08.Where the holders of debentures or bonds in a proceeding brought by or on their behalf are entitled to a charge on any property, the Court may, if it is of the opinion that there must eventually be a sale of the property, order the sale before or after judgment has been entered and whether or not all interested persons are ascertained or served.

26.09.
(1) Where
an order is made directing a property to be sold, the Court may permit any party or person having the conduct of the sale to sell the property in such manner as the party or person thinks fit, or as the Court directs, for the best price that can be obtained.

(2)
The Court may give such direction as it thinks fit for the purpose of effecting a sale, including, without restricting the generality of the foregoing, directions,

(a)appointing
the party or person who is to have the conduct of the sale;

(b)
fixing the manner of sale, whether by contract conditional on the approval of the Court, private treaty, public auction, sheriff's sale, tender or some other manner;

(c)fixing
a reserve or minimum price;

(d)requiring
payment of the purchase price into Court or to trustees or other persons;

(e)for
settling the particulars or conditions of sale;

(f)for
obtaining evidence of the value of the property;

(g)fixing
the remuneration to be paid to the party or person having the conduct of the sale; or

(h)requiring
an abstract of title to be prepared for the use of the Court.

26.10.(1) A report, verified by affidavit, of the result of a sale made under an order of the Court shall be prepared by the sheriff or person conducting the sale and shall be filed immediately after the sale with the Court.

(2)
The report as filed shall be verified as to its correctness by the solicitor of the party or person having the conduct of the sale.

26.11.The provisions of Rule 26 shall, as far as applicable and with any necessary modification, apply in relation to a mortgage, exchange, partition, lease, or other disposal of any property under an order of the Court as they apply in relation to the sale of any property under such an order.